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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Operating revenues        
Electric, non-affiliates $ 1,383 $ 1,598 $ 3,590 $ 3,914
Electric, affiliates 130 132 368 394
Natural gas 65 102 563 703
Other 13 12 35 33
Total operating revenues 1,591 1,844 4,556 5,044
Operating expenses        
Electric fuel and purchased power 570 750 1,593 1,857
Cost of natural gas sold and transported 22 65 364 510
Cost of sales — other 8 7 22 19
Operating and maintenance expenses 306 305 957 915
Conservation program expenses 27 45 83 135
Depreciation and amortization 249 256 713 759
Taxes (other than income taxes) 62 69 172 210
Total operating expenses 1,244 1,497 3,904 4,405
Operating income 347 347 652 639
Other expense, net (7) (4) (5) (9)
Allowance for funds used during construction — equity 9 9 26 21
Interest charges and financing costs        
Interest charges — includes other financing costs of $2, $2, $6 and $6, respectively 81 75 241 216
Allowance for funds used during construction — debt (5) (4) (15) (9)
Total interest charges and financing costs 76 71 226 207
Income before income taxes 273 281 447 444
Income tax expense (benefit) 13 12 (79) (70)
Net income $ 260 $ 269 $ 526 $ 514